I'll have an engineer look it over and stamp off before I move ahead.

Then I would speak with a land surveyor or civil engineer to get a sense of what it would take to obtain all the entitlements and bring in the utilities, etc.     

Engineered cost segregation studies is an area in which many people have a lot of questions about.

Also, I don't like the use of more exotic structures/financial engineering which increase risk ( and aren't necessary when good real estate is purchased at a good price with solid fundamentals). 

I have a couple buddies that are geological engineers.

When you know real estate, what can and can't be done, that's exactly what you do, get ideas, filter them through your BS Meter, apply appropriate tactics that are ethical and legal, be a transaction engineer and make things happen!

If any one can recommend a good REI focused lawyer or a building engineer to do a building survey then please let me know! 

I'm an engineering student planning to start a business after graduation.

Just withdraw it—it’s like a checking account.The Risks (Depends Who You Ask):A lawyer says everything can go wrong.An insurance agent says the same (so they can charge more).An engineer?

They wont let a diesel truck operate in the state with an engine over 10 years old , because of emissions .